Disorder and Discipline: The ECB’s Transmission Protection Instrument
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Redacția Lex24 |
| 09/11/2022 |
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Insight
Abstract: In the asymmetric Economic and Monetary Union “market discipline” has played an important and controversial role to compensate for the weakness of the legal framework as regards fiscal affairs. Both as an empirical matter of market behaviour and as a matter of the “no bail-out” clauses of arts 123 and 125 TFEU being effectively undermined…
